It covers choosing and forming the right entity, drafting the governing documents that control how the business runs, putting a buy-sell agreement in place so ownership changes are handled cleanly, and building a succession plan that coordinates with the owner’s personal estate plan. The goal is a business that survives an owner’s retirement, disability, or death. 

An LLC offers liability protection with flexible management and pass-through taxation and suits most small California businesses. An S-corporation is a tax election that can reduce self-employment tax once the business is consistently profitable. A C-corporation is generally reserved for companies seeking outside investment. Greg Roberts reviews revenue, ownership, and goals before recommending a structure. 

A buy-sell agreement controls what happens to an owner’s interest on death, disability, retirement, divorce, or a decision to exit. Without one, a co-owner’s shares can pass to a spouse, an heir, or a creditor who has no role in the business. These agreements are commonly funded with life insurance so the remaining owners have cash to complete a buyout. 

These documents decide in advance how the business is governed: who makes which decisions, how profits are distributed, what happens in a deadlock, and how an owner may transfer an interest. Without them California’s default statutory rules apply, and those defaults are rarely what the owners would have chosen. 

For most owners the business is the largest asset in the estate. The operating agreement, the buy-sell terms, and the living trust have to agree with one another, or the business can end up in probate or transfer to someone the owner never intended. Greg Roberts coordinates all three so the transfer works as designed. 

California entities owe an $800 annual minimum franchise tax, must file a Statement of Information with the Secretary of State on a recurring schedule, and should keep the records and formalities that preserve liability protection. Letting these lapse can result in suspension of the entity and loss of its protections.